TORONTO -- Loblaw Cos. appears to have won its bid to acquire Quebec-based supermarket chain Provigo Inc. by increasing slightly its cash-and-stock offer to 1.74 billion Canadian dollars (US$1.13 billion), based on current stock prices.

The revised bid, valued at C$16.09 a Provigo share, was supported by Provigo's biggest shareholder, Caisse de depot et Placement du Quebec, the provincial pension-fund agency that holds a 35% stake in Provigo. Loblaw said that 95% of the Provigo shares held by shareholders other than the...